Portland, OR, May 31, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global cable conduit systems market generated $6.13 billion in 2020, and is projected to reach $12.24 billion by 2030, growing at a CAGR of 7.8% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Significant surge in the commercial constructions activities across the globe, extensive use of use of submersible electric conduits, liquid tight conduits, and conduits providing protection against fire, rapid urbanization around the world, and increase in demand for highly secure & safe wiring system among people are expected to drive the growth of the global cable conduit systems market. On the other hand, complex installation processes are expected to hinder the growth to some extent. However, persistent technological advancements in conduit products are expected to create remarkable opportunities for the growth of the industry.
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COVID-19 Scenario
- The outbreak of COVID-19 has had a negative impact on the growth of the global cable conduit systems market, owing to the occurrence of lockdowns in various countries across the globe. Lockdowns led to the closure of most of the manufacturing units of electronics & semiconductor sector, including those of cable conduit systems. This was done by the government to curb the spread of the virus during the pandemic.
- In addition, massive slowing of supply chain and unavailability of raw materials due to import and export restrictions from the government further aggravated the impact on the market.
- However, the market is expected to recoup soon.
The report offers a detailed segmentation of the global cable conduit systems market based on type, end-user and region.
Based on type, the rigid cable conduit systems segment held the largest market share in 2020, garnering nearly three-fourths of the total market. The flexible cable conduit systems segment, on the other hand, is predicted to cite the fastest CAGR of 10.6% during the forecast period.
Based on end-user, the IT and telecommunication segment held the majority share in 2020, holding more than one-fifth of the total market. The manufacturing segment, on the other hand, is anticipated to exhibit the fastest CAGR of 10.5% during the forecast period.
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Based on region, the market across North America held the lion’s share in 2020, garnering nearly one-third of the total market. The Asia-Pacific region, on the other hand is projected to cite the fastest CAGR of 9.6% during the forecast period.
The key players of the analyzed in the global cable conduit systems market report include Atkore International Group Inc., S&C Electric, Champion Fiberglass Inc., Dura-Line Holdings Inc., Eaton Corporation Plc., Hubbell Incorporated, Legrand, Schneider Electric, ABB, and Igus Inc.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
